Although significant dollar strength is expected, my technical analysis shows some short term bullishness on the kiwi.
price has bounced off the Daily 21 Ma.
price has found support at wm2- 0.7220. that is also the 38.2 fib retracement on the h4 chart. and has acted as support early last week as well.

Target is less agressive, again due to potential dollar strength. therefore will look to take profit at either wpp-0.7273, or at wm3-0.7306 should higher highs and higher lows continue to develop on lower time frames.

2 thoughts on “Short term Nzd/usd long. 2016/08/09”

  1. Miles says:

    Thank you Dominic. If I get you right you’re basically counter trend trading the retracement of USD on the short term? Good luck with your trade!

  2. Wayne McDonell - TradersWay.com says:

    Please make sure you post your trade plans under “forex trading ideas”. This one is under “forex books”.

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